A plan based in the West approved transitioning the management of its endowment to a single outsourced cio provider as well as new investment policy statements for its endowment and operating funds that codify its commitment to diverse managers at its investment committee meeting last week.
Foundations continue to be the leaders of the institutional investment space when it comes to investing with diverse- and women-owned firms as 30 of the top 55 largest foundations collectively invest more than $11 billion with diverse-owned managers, yet work remains as 14 elected not to disclose any data including diversity statistics, according to a study.
A system based in the West is expected to receive a staff recommendation to transition the management of its endowment to a single outsourced cio provider this week.
A Florida general employees retirement system will interview two credit managers to each handle potential $20 million commitments and will also bring in a diverse-owned fixed-income manager as part of its emerging manager program buildout.
A foundation based in Chicago will divest its investment portfolio from fossil fuel industries and invest more in renewable energy to mitigate the effects of global climate change.
An HBCU in the Mid-Atlantic region revised its endowment policy this week to implement a mandate that a majority of its endowment be managed by minority-owned investment firms.